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Money Laundering & Terrorist Financing

Over 20 years of articles and reference material

A page dedicated to global, regional, UK and US anti-money laundering developments and initiatives.

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NCA’s UKFIU May 25 SARs Reporter Booklet highlights how SARs triggered asset freezes and forfeitures, uncovering links to shell companies, drug proceeds, and fraud – recovering over £800K in one case 

May 30, 2025

Investigations revealed connections to shell companies, excessive gambling, nominee directors, and individuals with criminal backgrounds. Asset freezing orders (AFOs) and forfeitures followed, often recovering tens or hundreds of thousands of pounds. One case involved over £800,000 in restrained assets linked to suspected drug proceeds. Another uncovered a false business front used to launder funds, resulting in a £300,000 forfeiture…

UNODC’s 2025 report shows synthetic drug trafficking surged in East and Southeast Asia, with meth seizures hitting 236 tons in 2024 – 24% up from 2023 – as Myanmar remains the epicenter

May 28, 2025

The report highlights a significant drop in meth prices—as low as $0.60 per tablet in Myanmar—making the drug more accessible than ever. Trafficking routes are diversifying, now including major maritime channels, while ketamine seizures topped 23 tons, underscoring persistent demand…

US SEC finds that concentrated BO in hedge funds pose higher risk and volatility, urging closer regulatory scrutiny and greater transparency protect markets and investors

May 28, 2025

Using confidential Form PF data and public filings, the study reveals that ownership structure significantly influences fund governance and risk exposure, with potential implications for systemic stability. The findings underscore the need for regulators to monitor ownership concentration more closely and support enhanced transparency to strengthen oversight and investor protection within the private funds…

FCA consults on Stablecoin and Cryptoasset custody rules to bolster AML defences through EDD, asset safeguarding, and Travel Rule compliance – feedback due 31 July 2025; final rules set for 2026

May 28, 2025

Stablecoins must be fully backed by low-risk, liquid assets, with issuers subject to rigorous liquidity ratio calculations (BACR) and prompt FCA notification in case of breaches. Redemption must occur at par value within one business day, and custodians must maintain robust safeguarding measures, including third-party due diligence, daily reconciliations, and detailed record-keeping. Cryptoassets must be held in non-statutory trusts, segregated from firm holdings, with clear disclosure, transparent outsourcing accountability, and enhanced client protection to minimise risk of failure and financial crime exposure…

CBUAE enforces financial sanctions of AED18.1M on 2 foreign bank branches for breaching AML/CFT regulations, reinforcing its commitment to transparency and financial system integrity

May 28, 2025

The enforcement action which follows examinations revealing significant shortcomings in adherence to the UAE’s AML/CFT framework, signals the CBUAE’s increasingly assertive stance on regulatory compliance. This move underscores a stronger commitment to enforcing financial crime sanctions, particularly in the wake of the UAE’s removal from the Financial Action Task Force (FATF) grey list…

FATF’s Consolidated Assessment ratings (May 2025) highlight Philippines’ removal from the grey list, the addition of Laos and Nepal, and underscore global progress in AML/CFT compliance

May 28, 2025

The Philippines was removed after demonstrating progress in its anti-money laundering and countering the financing of terrorism (AML/CFT) framework. Laos and Nepal were added due to ongoing deficiencies in their AML/CFT systems. The FATF’s actions highlight both progress in some countries and the need for continued improvements in others…

FATF upgrades Indonesia’s proliferation financing rating in its 2025 follow-up assessment, marking a major step forward in the country’s alignment with global AML/CFT standards

May 28, 2025

This upgrade reflects the country’s continued efforts to address deficiencies identified in its 2023 mutual evaluation, particularly through legislative and regulatory reforms aimed at enhancing its AML/CFT framework. With this improvement, Indonesia now has 36 out of 40 FATF Recommendations rated as either Compliant or Largely Compliant, marking a significant step forward in aligning with global standards and reinforcing…

CSSF’s 2025 NRA Report flags foreign criminal proceeds as Luxembourg’s top ML threat – driven by fraud, corruption, tax crimes, and drug trafficking, prompting stronger oversight and transparency

May 27, 2025

The report highlights that ML is primarily fueled by proceeds of foreign crimes, particularly fraud, tax evasion, corruption, and bribery. Domestic threats are less significant, with key risks arising from fraud, robbery, and drug trafficking. Legal arrangements now pose the highest inherent risk, followed by commercial companies, due to opaque and complex ownership structures….

FSB, FATF and OECD holds first Cross-Border Payments Data Forum to align AML/CFT, sanctions, and data privacy standards, driving the G20’s vision for faster, safer, and more efficient global payments

May 27, 2025

The Forum aims to improve cross-border cooperation on data collection, storage, and management in payments. It will also explore how technology and cross-sector collaboration can better align AML/CFT measures with data protection goals, ensuring timely access to necessary information for investigators…

UK Finance 2025 Annual Fraud Report reveals a complex fraud landscape, with 2024 fraud losses held at £1.17bn, despite a 12% rise in reported cases, with APP fraud down but card and investment scams up

May 27, 2025

Authorised Push Payment (APP) fraud saw a decline in both value and volume, attributed to heightened industry investment and consumer awareness. However, unauthorised fraud losses rose to £722 million, driven by a 22% surge in remote purchase fraud, where stolen card details are used for online transactions. Notably, 70% of APP fraud cases originated online, and 16% via telecommunications networks. The financial sector successfully prevented £1.45 billion in unauthorised fraud, marking a 16% improvement from the previous year…

Wolfsberg Group’s 25th Anniversary Forum united global leaders to drive bold actionable reforms – improving SARs, enhancing cross-sector feedback, and advancing smarter FC enforcement strategies

May 26, 2025

The Forum brought together 100 leaders from global financial institutions, regulators, law enforcement, fintechs, and civil society to address the evolving landscape of financial crime. Emphasising a risk-based, trust-driven approach, participants called for clearer definitions of “suspicion,” better alignment of risk assessments across levels, and stronger public-private information sharing backed by legal protections…

 

EU-UAE deepens AML/CTF partnership at 8th Dialogue in Abu Dhabi, pledging stronger judicial coordination, law enforcement cooperation, and intelligence sharing to tackle emerging FC risks 

May 26, 2025

The dialogue focused on deepening strategic partnerships between law enforcement and regulatory bodies, addressing emerging risks in money laundering and terrorist financing, and establishing clearer frameworks for cross-border cooperation. Both parties committed to improving transparency, increasing the effectiveness of financial investigations, and aligning their efforts with international compliance standards…

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